GAGA Share Market News

[hfe_template id='11223'] [ad_1] India’s top money managers, overseeing nearly $120 billion of equity assets, are now favoring shares of large firms with strong fundamentals as this week’s election upset dims the appeal of past winners with sky-high valuations. Stock pickers at ICICI Prudential Asset Management Co. and HDFC Asset Management Co. are turning wary of small-caps and stocks that look overheated, such as industrials, defense and state-run companies. Nippon Life India Asset Management Ltd. is leaning toward larger companies that are trading at attractive valuations. It’s been a turbulent week for Indian equities. After an initial surge Monday on the back of exit polls signaling a sweeping majority for Prime Minister Narendra Modi, markets crashed a day later erasing almost $400 billion of value as his party lost its majority in parliament. While shares have recovered most of their losses after Modi won backing from key allies to form a government, stocks that a...

[hfe_template id='11223'] [ad_1] Mumbai: Indian equities are poised to rise on Monday, with exit polls predicting a victory for the BJP-led National Democratic Alliance (NDA) in the general election, easing investor uncertainty over the ruling coalition's performance, analysts said. Benchmark indices may rise about 2% Monday as foreign investors could reduce bearish bets, giving the market a boost. Shares of public sector and manufacturing companies, beneficiaries of the Narendra Modi-led BJP government's Make in India theme, could lead the likely advance, they said. "Most exit polls are indicating a win for the NDA, which should trigger short covering on Monday," said Sriram Velayudhan, senior vice president, IIFL Securities. Uncertainty had set in over the past few weeks and foreign portfolio investor (FPI) short positions in index futures were at record highs, he said. FPIs' record bearish derivative bets and selling of shares have weighed down t...